Jeremy Balkin, Head of Innovation at HSBC

HSBC Bank USA, part of the HSBC Group and SoftBank Robotics America (SBRA), today announced the launch of Pepper, the humanoid robot, in its branch in Miami’s neighbourhood. This is the first time that Pepper has been deployed at a retail bank in the state of Florida, a milestone for the booming tech industry in Miami.

“Miami’s tech scene is experiencing positive growth and we see a lot of opportunity for disruption in the region,” said Pablo Sanchez, Head of Retail Banking and Wealth Management for HSBC in the US and Canada. “Our customers in South Florida will have a chance to experience an entirely new way of banking thanks to Pepper. It’s an exciting next step for us as we continue to expand the number of branches that have these capabilities.”

Last year, HSBC became the first financial institution in the United States to bring SoftBank Robotics’ Pepper to retail banking when it launched the robot at the HSBC flagship branch in Manhattan. Since then, the bank has continued to rollout Pepper in branches across the country, including Beverly Hills and Seattle, all of which have seen a significant increase in branch activity, ATM transaction volumes and new credit card applications. The bank has also seen an overall increase in new business as a result of more than 25,000 total customer interactions with Pepper.

Pepper will allow bank staff to have deeper, more high-value customer engagements by encouraging and educating consumers on basic product information, the availability of self-service banking options, and asking relevant questions to determine a customer’s banking needs.

“The digital banking experience is transforming as quickly as the smartphone revolution took off,” said Jeremy Balkin, Head of Innovation at HSBC. “Pepper’s rollout is part of our larger vision to transform HSBC’s branch banking experience into the ‘Branch of the Future,’ by providing a host of consumer-facing upgrades that will take the franchise in an exciting new direction.”

SoftBank Robotics America (SBRA), headquartered in San Francisco with offices in Boston, is constantly exploring and commercializing robotics solutions that help make people’s lives easier, safer, more connected, and more extraordinary. Known for Pepper and NAO, SBRA is also a strong supporter of STREAM education and advancing automation to augment everyday work and life.

“As we’ve already seen in HSBC’s Fifth Avenue, Beverly Hills and Seattle branches, Pepper provides services that truly elevate the retail banking experience for both visitors and staff,” said Kass Dawson, Head of Marketing and Business Strategy, SoftBank Robotics America. “Miami is an up and coming hub for innovation and is a natural fit for this unique banking experience that is enriched by human-robot interactions.”

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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